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Increased Flood Risk Transparency for HUD Homebuyers

New rules require the Department of Housing and Urban Development (HUD) to inform homebuyers about flood risks and insurance costs for properties in flood hazard areas. This aims to help citizens make informed decisions when purchasing real estate and avoid unexpected expenses.
Key points
Buyers of HUD homes in flood hazard areas will receive information on the estimated monthly cost of flood insurance.
HUD must disclose if a property has previously experienced severe repetitive flood losses.
An annual report to Congress will detail HUD properties sold in flood hazard areas and reported claims.
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Expired
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Additional Information
Print number: 117_HR_5556
Sponsor: Rep. Diaz-Balart, Mario [R-FL-25]
Process start date: 2021-10-12
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Flood Risk Transparency for Homebuyers Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5556.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-10-12.

What are the main provisions?

Key points include:

  • Buyers of HUD homes in flood hazard areas will receive information on the estimated monthly cost of flood insurance.
  • HUD must disclose if a property has previously experienced severe repetitive flood losses.
  • An annual report to Congress will detail HUD properties sold in flood hazard areas and reported claims.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Diaz-Balart, Mario [R-FL-25].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Real Estate Environment